IShares Core Correlations

XDIV Etf

CAD 38.77 0.15 0.39%

The current 90-days correlation between iShares Core MSCI and iShares Core MSCI is 0.35 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares Core moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Core MSCI moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares Core Correlation With Market

Very weak diversification

The correlation between iShares Core MSCI and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Core MSCI and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to IShares Core could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace IShares Core when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back IShares Core - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling iShares Core MSCI to buy it.

Moving together with IShares Etf

0.92	ZWC	BMO Canadian High	Pair Corr
0.97	XDV	iShares Canadian Select	Pair Corr
0.95	CDZ	iShares SPTSX Canadian	Pair Corr
0.97	PDC	Invesco Canadian Dividend	Pair Corr
0.96	XEI	iShares SPTSX Composite	Pair Corr
0.96	VDY	Vanguard FTSE Canadian	Pair Corr
0.86	ZDV	BMO Canadian Dividend	Pair Corr
0.93	DGRC	CI Canada Quality	Pair Corr
0.84	CDIV	Manulife Smart Dividend	Pair Corr
0.93	HXH	Global X Canadian	Pair Corr
0.7	HGU	BetaPro Canadian Gold	Pair Corr
0.79	ZGD	BMO Equal Weight	Pair Corr
0.8	ZJG	BMO Junior Gold	Pair Corr
0.79	HGGG	Harvest Global Gold	Pair Corr
0.76	GLDX	Global X Gold	Pair Corr
0.69	HBU	BetaPro Gold Bullion	Pair Corr
0.76	XGD	iShares SPTSX Global	Pair Corr
0.78	QDX	Mackenzie International	Pair Corr
0.82	VCN	Vanguard FTSE Canada	Pair Corr
0.82	XINC	iShares Core Income	Pair Corr
0.81	VCB	Vanguard Canadian	Pair Corr
0.9	PINC	Purpose Multi Asset	Pair Corr
0.75	XBAL	iShares Core Balanced	Pair Corr
0.88	XEG	iShares SPTSX Capped	Pair Corr
0.66	COPP	Global X Copper	Pair Corr
0.9	XDG	iShares Core MSCI	Pair Corr
0.65	XMM	iShares MSCI Min	Pair Corr
0.67	BANK	Evolve Canadian Banks	Pair Corr
0.87	PDIV	Purpose Enhanced Dividend	Pair Corr
0.74	XSMH	iShares SP Small	Pair Corr
0.82	FMAE	Fidelity Multi Alt	Pair Corr
0.75	GBUL	Ninepoint Gold Bullion	Pair Corr
0.88	HEU	BetaPro SP TSX	Pair Corr

Related Correlations Analysis

	XEC	VEE	XGD	NUBF	TPE	XSB	VCE	VXC	XAW
XEC		0.98	0.91	0.85	0.98	0.9	0.87	0.91	0.93	XEC
VEE	0.98		0.86	0.81	0.95	0.82	0.82	0.96	0.96	VEE
XGD	0.91	0.86		0.72	0.89	0.84	0.94	0.8	0.81	XGD
NUBF	0.85	0.81	0.72		0.85	0.9	0.68	0.74	0.76	NUBF
TPE	0.98	0.95	0.89	0.85		0.92	0.88	0.89	0.91	TPE
XSB	0.9	0.82	0.84	0.9	0.92		0.82	0.75	0.77	XSB
VCE	0.87	0.82	0.94	0.68	0.88	0.82		0.83	0.84	VCE
VXC	0.91	0.96	0.8	0.74	0.89	0.75	0.83		1.0	VXC
XAW	0.93	0.96	0.81	0.76	0.91	0.77	0.84	1.0		XAW
	XEC	VEE	XGD	NUBF	TPE	XSB	VCE	VXC	XAW

IShares Core Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Core ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze IShares Core's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
XEC	0.73	0.07	0.05	0.15	1.05	(0.76)	1.42	(1.10)	7.40
VEE	0.63	0.00	(0.02)	0.03	0.90	(0.64)	1.34	(1.22)	5.69
XGD	2.03	0.37	0.09	0.36	3.35	(1.99)	4.55	(6.00)	16.14
NUBF	0.26	0.00	(0.09)	(0.06)	0.33	(0.28)	0.66	(0.56)	1.92
TPE	0.56	0.05	0.04	0.12	0.81	(0.54)	1.17	(1.43)	5.00
XSB	0.07	0.00	(0.23)	(0.07)	0.06	(0.07)	0.15	(0.15)	0.63
VCE	0.61	0.09	0.07	0.19	0.82	(0.66)	1.21	(1.34)	3.99
VXC	0.51	(0.02)	(0.04)	0.01	0.69	(0.49)	1.08	(0.98)	3.90
XAW	0.49	(0.01)	(0.03)	0.02	0.66	(0.51)	1.06	(0.97)	3.81

Be your own money manager

Our tools can tell you how much better you can do entering a position in IShares Core without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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